On September 1, 2021, the Consumer Financial Protection Bureau (CFPB) issued a notice of proposed rulemaking (NPRM) amending Regulation B to implement the small business lending data collection rules in ...
In August 2021, the FDIC published Conducting Due Diligence on Financial Technology Companies: A Guide for Community Banks with the intent of assisting financial institutions through the process of conducting ...
On July 28, 2021, a bill was reintroduced in the Senate titled the "Veterans and Consumers Fair Credit Act." The bill will add a 36% interest rate cap on all ...
August 11, 2021, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae will begin considering rental payment history during its underwriting process. The goal of this expansion is to ...
The Federal Credit Union Act generally places a cap of 15% interest on consumer loans. The Act provides some flexibility allowing establishment of a higher rate under certain circumstances. The ...
On August 8, 2021, the Consumer Financial Protection Bureau issued an interpretive rule aimed at helping the mortgage industry determine how to handle the June 19, 2021 holiday. On June ...
On July 7, 2021, Fannie Mae released its Selling Guide Announcement SEL-2021-06 and Freddie Mac released its Selling Bulletin 2021-25, both of which included an announcement about Fannie Mae and ...
Oregon, with immediate effect, allows remote witnessing. Notable requirements for a remote witness to sign include being in the “electronic presence” of the signer and a review of the signer’s ...
In the last few weeks, Florida has passed a couple bills surrounding remotely executed transactions. 2021 FL HB 121 adds allowances for remote notarization in administering court related oaths, clarifies ...
The Federal Deposit Insurance Corporation (FDIC) held a webinar on Tuesday, June 29 regarding using fintech to aid financial institutions with improved economic inclusion. The topics included: A Conversation on ...